1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:09,920 --> 00:00:13,360 Speaker 2: This is the closing bell on this stock mover's report. 3 00:00:13,600 --> 00:00:16,560 Speaker 2: The company's making moves at the close of US trading 4 00:00:16,800 --> 00:00:21,319 Speaker 2: with Carol Master, Tim Stenebeck, Romain, Bostik, and Scarlet Food. 5 00:00:22,560 --> 00:00:25,720 Speaker 3: We had some fairly broad based buying today, Scarlet three 6 00:00:25,760 --> 00:00:27,319 Speaker 3: hundred and thirty two names in the S and P 7 00:00:27,440 --> 00:00:30,160 Speaker 3: five hundred to the Upside one hundred and sixty seven, 8 00:00:30,640 --> 00:00:33,160 Speaker 3: losing ground for Unchange at least as we settle in here. 9 00:00:33,200 --> 00:00:35,120 Speaker 4: All right, let's take a look at what's leading the 10 00:00:35,120 --> 00:00:38,120 Speaker 4: games today. It's really a mix of cyclicals and of 11 00:00:38,159 --> 00:00:41,640 Speaker 4: course big tech. You have materials and industrials, each getting 12 00:00:41,640 --> 00:00:45,239 Speaker 4: about a percent. Consumer discretionary up about eight tenths of 13 00:00:45,280 --> 00:00:48,120 Speaker 4: one percent, and then on the flip side, energy lower 14 00:00:48,159 --> 00:00:51,360 Speaker 4: by four tens of one percent, communications services moderately lower. 15 00:00:51,440 --> 00:00:53,239 Speaker 3: All right, let me get to some of the individual 16 00:00:53,240 --> 00:00:55,760 Speaker 3: gainers if I may, And I feel like these are 17 00:00:55,800 --> 00:00:57,840 Speaker 3: perhaps all things in Romain's life, but we'll have to 18 00:00:57,840 --> 00:01:00,520 Speaker 3: see if that's true. Let's start with deckers, because that 19 00:01:00,600 --> 00:01:02,040 Speaker 3: is your number one gainer in the S and P 20 00:01:02,160 --> 00:01:04,640 Speaker 3: five hundred. I definitely see some ugs and some hokahs, 21 00:01:05,120 --> 00:01:08,120 Speaker 3: in his closet. Stock was up as much as twenty 22 00:01:08,160 --> 00:01:11,240 Speaker 3: percent intraday, finishing the day with a gain of about 23 00:01:11,280 --> 00:01:12,960 Speaker 3: eleven percent. But, as I said, number one gainer in 24 00:01:13,000 --> 00:01:15,880 Speaker 3: the SNP net sales for ug and Hoka, surpassing analysts 25 00:01:16,000 --> 00:01:19,080 Speaker 3: estimates in the fiscal first quarter, ugg sales rising about 26 00:01:19,200 --> 00:01:24,319 Speaker 3: nineteen percent, Hokah sales increasing roughly twenty percent. Bloomberg Intelligence 27 00:01:24,360 --> 00:01:27,640 Speaker 3: our own analysts saying that uggs momentum further validates their 28 00:01:27,640 --> 00:01:31,160 Speaker 3: conviction about the brand's health, and Hoka outperform expectations as 29 00:01:31,240 --> 00:01:34,520 Speaker 3: new product upgrades fuel demand. All right, Also check out 30 00:01:34,560 --> 00:01:37,119 Speaker 3: remain Tom. You might find a YETI or two in there. 31 00:01:37,120 --> 00:01:39,240 Speaker 3: We had that stock up about five point six percent 32 00:01:39,280 --> 00:01:42,959 Speaker 3: here at the close after a Betaville Uncooked alert says 33 00:01:42,959 --> 00:01:46,760 Speaker 3: the outdoor products maker may have attracted some takeover interest. 34 00:01:47,360 --> 00:01:50,680 Speaker 3: You might remember back in May that the stock rose 35 00:01:50,720 --> 00:01:53,960 Speaker 3: after Jeffries said that the consumer products company stands out 36 00:01:54,000 --> 00:01:57,080 Speaker 3: as an attractive target for private equity. The report, though 37 00:01:57,160 --> 00:02:01,080 Speaker 3: in today's trade, citing people following the situation, identity of 38 00:02:01,080 --> 00:02:03,440 Speaker 3: a potential buyers and clear though some of the people 39 00:02:03,440 --> 00:02:06,960 Speaker 3: suggest a PE firm may be interested to maybe a 40 00:02:07,000 --> 00:02:08,480 Speaker 3: private equity play, and then it's. 41 00:02:08,320 --> 00:02:10,399 Speaker 1: Wanted to be great effle like Deckers just bought them. 42 00:02:12,919 --> 00:02:14,160 Speaker 5: Carry what are the synergy? 43 00:02:14,240 --> 00:02:16,280 Speaker 1: Is your big gigantic mug with your. 44 00:02:17,080 --> 00:02:19,720 Speaker 3: Actually I think people who wear uggs probably carry yetties. 45 00:02:19,760 --> 00:02:20,200 Speaker 5: Can I make it? 46 00:02:20,520 --> 00:02:21,640 Speaker 1: I just carry like Stanley cups. 47 00:02:21,639 --> 00:02:23,880 Speaker 3: Sorry, all right, all right, all right. One more thing 48 00:02:23,880 --> 00:02:27,400 Speaker 3: that might be in remains driveway at Tesla. Probably not. 49 00:02:27,720 --> 00:02:30,280 Speaker 3: I'm thinking you're not a driveway? Are you a Tesla guy? 50 00:02:30,639 --> 00:02:32,720 Speaker 1: Well, first of all, yeah, I live in Manhattan, So no, 51 00:02:32,800 --> 00:02:33,359 Speaker 1: I don't. 52 00:02:33,120 --> 00:02:33,760 Speaker 2: Have a driveway. 53 00:02:33,760 --> 00:02:37,120 Speaker 5: If you have a driveway, then I'm going with you 54 00:02:37,160 --> 00:02:38,919 Speaker 5: to the Hamptons. You gotta driveway. 55 00:02:38,960 --> 00:02:40,840 Speaker 3: You have a driveway for Tesla or garage? 56 00:02:40,840 --> 00:02:41,600 Speaker 4: Because you need to try. 57 00:02:41,960 --> 00:02:42,840 Speaker 1: Who drives in the city? 58 00:02:42,840 --> 00:02:44,600 Speaker 5: Come on, all right, we all drive in the city. 59 00:02:44,720 --> 00:02:46,720 Speaker 3: I drive in the city, all right, all right. So 60 00:02:46,800 --> 00:02:50,480 Speaker 3: Tesla was a top gainer number two gainer in the 61 00:02:50,560 --> 00:02:53,040 Speaker 3: NASDAQ one hundred stock up about three and a half percent. 62 00:02:53,480 --> 00:02:54,000 Speaker 1: We know there. 63 00:02:54,000 --> 00:02:58,000 Speaker 3: It was sold off yesterday following uh Tesla's report that 64 00:02:58,080 --> 00:03:01,799 Speaker 3: came late Wednesday. In Elon's warning, Alice though raising price 65 00:03:01,840 --> 00:03:06,760 Speaker 3: targets for Tesla since it reported earnings eight change price targets. 66 00:03:06,760 --> 00:03:09,480 Speaker 3: The average change was up about three percent, five raised 67 00:03:09,480 --> 00:03:12,079 Speaker 3: price targets by an average of almost nine percent, three 68 00:03:12,120 --> 00:03:14,640 Speaker 3: cut their price target targets by an average of seven percent, 69 00:03:14,919 --> 00:03:18,600 Speaker 3: and four analysts downgraded their investment recommendation none. 70 00:03:18,639 --> 00:03:20,080 Speaker 1: All right, I hope yours a better. 71 00:03:20,760 --> 00:03:23,440 Speaker 5: Hey, I actually got the two worst performers on a 72 00:03:23,480 --> 00:03:26,359 Speaker 5: percentage basis in the S and P five hundred. Let's 73 00:03:26,360 --> 00:03:29,800 Speaker 5: start with Intels down eight point five percent. You guys 74 00:03:29,800 --> 00:03:34,280 Speaker 5: know what happened yesterday after the bell, Intel CEO lit 75 00:03:34,280 --> 00:03:37,400 Speaker 5: Bhutan spark concerns that he's more focused on cost cutting 76 00:03:37,440 --> 00:03:40,400 Speaker 5: than restoring the chip maker's technological edge. Check out what 77 00:03:40,480 --> 00:03:43,600 Speaker 5: he said on the call quote, I do not subscribe 78 00:03:43,640 --> 00:03:45,640 Speaker 5: to the belief that if you build it, they will come. 79 00:03:46,000 --> 00:03:49,400 Speaker 5: He was referring to future spending and the spending under 80 00:03:49,640 --> 00:03:52,840 Speaker 5: his predecessor just over the last couple of years in 81 00:03:53,000 --> 00:03:56,000 Speaker 5: building these facilities, some of which they stopped building and 82 00:03:56,200 --> 00:03:57,440 Speaker 5: they slowed down to constructure. 83 00:03:57,480 --> 00:03:59,840 Speaker 1: I'm curious, so I know everyone's taking that as a negative. 84 00:04:00,160 --> 00:04:02,520 Speaker 1: Is that potentially maybe a positive? I know there's been 85 00:04:02,560 --> 00:04:04,560 Speaker 1: so much talk about how all these other companies are 86 00:04:04,600 --> 00:04:07,040 Speaker 1: just spending all this money willy nilly and not really 87 00:04:07,080 --> 00:04:10,080 Speaker 1: seeing a return from it. Maybe a more pragmatic approach. 88 00:04:10,240 --> 00:04:12,280 Speaker 3: I feel like Ian King said, you got to spend. 89 00:04:12,000 --> 00:04:15,440 Speaker 5: Though, right, Yeah, I mean think about this. This is Intel. 90 00:04:15,560 --> 00:04:18,080 Speaker 5: This was like the king of chip making back in 91 00:04:18,120 --> 00:04:18,479 Speaker 5: the day. 92 00:04:18,680 --> 00:04:18,880 Speaker 3: Yeah. 93 00:04:18,920 --> 00:04:22,240 Speaker 5: Yeah, it's a cyclical business. But Intel has completely missed 94 00:04:22,279 --> 00:04:24,800 Speaker 5: out on this cycle. I mean yesterday, this was before 95 00:04:24,920 --> 00:04:27,240 Speaker 5: the bell came, before the earnings. This was one hundred 96 00:04:27,279 --> 00:04:30,040 Speaker 5: billion dollar company. It's now about a ninety billion dollar company. 97 00:04:30,080 --> 00:04:32,320 Speaker 5: The question is what does it look like in its 98 00:04:32,320 --> 00:04:34,080 Speaker 5: next iteration and how does it compete with the big 99 00:04:34,080 --> 00:04:34,560 Speaker 5: players up? 100 00:04:34,600 --> 00:04:36,440 Speaker 4: I mean the bears would say that comment sounds like 101 00:04:36,440 --> 00:04:38,960 Speaker 4: he's managing for a decline or through a decline, rather 102 00:04:39,000 --> 00:04:42,800 Speaker 4: than managing for a recovery, right, or for growth. 103 00:04:42,880 --> 00:04:45,000 Speaker 5: I mean that's what big exact and that's why I 104 00:04:45,000 --> 00:04:47,040 Speaker 5: think you saw the reaction today so well as the 105 00:04:47,040 --> 00:04:49,560 Speaker 5: way to see. Remember he's still a new CEO, so 106 00:04:49,640 --> 00:04:51,640 Speaker 5: he's got some time for a turnaround. But we've been 107 00:04:51,680 --> 00:04:54,000 Speaker 5: saying that about the last two CEOs as well. I 108 00:04:54,000 --> 00:04:56,839 Speaker 5: think it's fair to say, Hey, also, Charter Communication, this 109 00:04:56,960 --> 00:04:58,560 Speaker 5: was the worst performer in the S and P five 110 00:04:58,640 --> 00:05:01,359 Speaker 5: hundre today had its worst single day ever, down eighteen 111 00:05:01,400 --> 00:05:04,159 Speaker 5: and a half percent. This after the company said it 112 00:05:04,200 --> 00:05:06,919 Speaker 5: lost one hundred and eleven thousand residential high speed internet 113 00:05:06,960 --> 00:05:10,000 Speaker 5: customers in the quarter that ended at the end of June. 114 00:05:10,040 --> 00:05:13,080 Speaker 5: It was more than analysts had predicted. They're facing pressure 115 00:05:13,320 --> 00:05:16,560 Speaker 5: from the rise of five G from mobile companies and 116 00:05:16,600 --> 00:05:20,920 Speaker 5: also fiber home internet offerings as well. And finally taking 117 00:05:20,920 --> 00:05:23,960 Speaker 5: a look at Pinnacle Financial Partners down twelve percent along 118 00:05:23,960 --> 00:05:26,920 Speaker 5: with Sonovas down twelve and a half percent, this after 119 00:05:26,920 --> 00:05:29,120 Speaker 5: the companies agreed to an all stock transaction valued at 120 00:05:29,160 --> 00:05:32,520 Speaker 5: eight point six billion dollars. It'll combine these two banks 121 00:05:32,560 --> 00:05:36,000 Speaker 5: in the US Southeastern market. But investors not liking the 122 00:05:36,040 --> 00:05:37,480 Speaker 5: looks of this, at least today. 123 00:05:38,000 --> 00:05:40,279 Speaker 1: All right, let's take a quick look at yield. We 124 00:05:40,360 --> 00:05:43,640 Speaker 1: did actually see some movement. They are relatively modest movement, 125 00:05:43,640 --> 00:05:46,039 Speaker 1: to be sure, but to the downside, basically about a 126 00:05:46,040 --> 00:05:49,279 Speaker 1: one basis point across the board here. And it gets 127 00:05:49,320 --> 00:05:51,159 Speaker 1: to this idea of us a little bit of stasis 128 00:05:51,240 --> 00:05:53,880 Speaker 1: right now going on in the yield spaces. Everyone really 129 00:05:53,920 --> 00:05:57,040 Speaker 1: tries to game out, guys, where we go next with rates, 130 00:05:57,080 --> 00:06:00,719 Speaker 1: particularly in light of all the pressure the White House 131 00:06:01,360 --> 00:06:04,719 Speaker 1: on Jay Powell, which we all were here live on Area. 132 00:06:04,560 --> 00:06:06,880 Speaker 4: Yesterday, sometimes with harthads, sometimes without. 133 00:06:06,920 --> 00:06:09,400 Speaker 1: Well, the hardhats just was like, I mean, Chef's Kiss. 134 00:06:09,400 --> 00:06:11,960 Speaker 1: I mean, honestly, that's the best television we've had. 135 00:06:12,040 --> 00:06:14,680 Speaker 3: Ye that moment in time is just like seared. Yeah. 136 00:06:17,360 --> 00:06:21,400 Speaker 2: The Stock Mover's Report from Bloomberg Radio. Check back with 137 00:06:21,480 --> 00:06:24,040 Speaker 2: us throughout the day for the latest roundup of companies 138 00:06:24,120 --> 00:06:27,200 Speaker 2: making news on Wall Street and for the latest market 139 00:06:27,240 --> 00:06:31,719 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 140 00:06:31,800 --> 00:06:35,279 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 141 00:06:35,360 --> 00:06:36,839 Speaker 2: the Bloomberg Business app.